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Get More and Do More at Dummies.com ® To access the Cheat Sheet created specifically for this book, go to www.dummies.com/cheatsheet/marketing est spine=.76” by Alexander Hiam Author of Marketing Kit For Dummies, 3rd Edition Marketing FOR DUMmIES ‰ 3 RD EDITION Marketing For Dummies ® , 3rd Edition Published by Wiley Publishing, Inc. 111 River St. Hoboken, NJ 07030-5774 www.wiley.com Copyright © 2009 by Wiley Publishing, Inc., Indianapolis, Indiana Published by Wiley Publishing, Inc., Indianapolis, Indiana Published simultaneously in Canada No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permit- ted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 646-8600. 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Library of Congress Control Number: 2009934563 ISBN: 978-0-470-50210-5 Manufactured in the United States of America 10 9 8 7 6 5 4 3 2 1 About the Author Alexander Hiam is a consultant, corporate trainer, and public speaker with 20 years of experience in marketing, sales, and corporate communications. He’s the director of Insights for Marketing, which offers a range of market- ing services including design, branding, and strategy consultations for both nonpro t and for-pro t marketers. He’s also active in developing the next gen- eration of leaders in the workplace through his educational publishing rm, Trainer’s Spectrum. Alexander has an MBA in marketing and strategic planning from the Haas School at U.C. Berkeley and a BA from Harvard. He has worked as a marketing manager for both smaller high-tech rms and a Fortune 100 company, led cre- ative retreats for top consumer and industrial rms, and served as an instruc- tor at the business school at U. Mass Amherst, where he taught marketing and advertising. He is the coauthor of the bestseller The Portable MBA in Marketing (Wiley), as well as numerous other books and training programs. Additionally, he has consulted to a wide range of companies, nonpro ts, and government agencies. Alexander is also the author of a companion volume to this book, Marketing Kit For Dummies, 3rd Edition (Wiley), which includes more detailed coverage of many of the hands-on topics involved in creating great advertising, direct- mail letters, Web sites, publicity campaigns, and marketing plans. On the CD that comes with Marketing Kit For Dummies, 3rd Edition, you’ll nd forms, checklists, and templates that may be of use to you. Also, he maintains an extensive Web site of resources (www.insightsformarketing.com) that he organized to support each of the chapters in this book. Publisher’s Acknowledgments We’re proud of this book; please send us your comments through our Dummies online registra- tion form located at http://dummies.custhelp.com. For other comments, please contact our Customer Care Department within the U.S. at 877-762-2974, outside the U.S. at 317-572-3993, or fax 317-572-4002. Some of the people who helped bring this book to market include the following: Acquisitions, Editorial, and Media Development Project Editor: Chad R. Sievers (Previous Edition: Tere Drenth) Acquisitions Editor: Stacy Kennedy Copy Editor: Jennifer Tebbe (Previous Edition: Laura K. Miller) Assistant Editor: Erin Calligan Mooney Editorial Program Coordinator: Joe Niesen Technical Editor: Alberto F. Hidalgo Jr. Editorial Manager: Michelle Hacker Editorial Assistant: Jennette ElNaggar Cover Photos: © Brand X Pictures Cartoons: Rich Tennant (www.the5thwave.com) Composition Services Project Coordinator: Patrick Redmond Layout and Graphics: Samantha K. Cherolis Proofreader: Toni Settle Indexer: Potomac Indexing, LLC Special Help Megan Knoll, Todd Lothery Publishing and Editorial for Consumer Dummies Diane Graves Steele, Vice President and Publisher, Consumer Dummies Kristin Ferguson-Wagstaffe, Product Development Director, Consumer Dummies Ensley Eikenburg, Associate Publisher, Travel Kelly Regan, Editorial Director, Travel Publishing for Technology Dummies Andy Cummings, Vice President and Publisher, Dummies Technology/General User Composition Services Debbie Stailey, Director of Composition Services Contents at a Glance Introduction 1 Part I: Designing a Great Marketing Program 7 Chapter 1: Optimizing Your Marketing Program . 9 Chapter 2: Strengthening Your Marketing Strategy 25 Chapter 3: Writing a Marketing Plan . 43 Part II: Leveraging Your Marketing Skills 67 Chapter 4: Researching Your Customers, Competitors, and Industry . 69 Chapter 5: Engaging Your Marketing Imagination .87 Chapter 6: Pumping Up Your Marketing Communications 107 Part III: Advertising for Fun and Profit 125 Chapter 7: Perfecting Your Printed Materials 127 Chapter 8: Signing On to Outdoor Advertising 147 Chapter 9: Broadcasting Your Message 167 Part IV: Finding Powerful Alternatives to Advertising .183 Chapter 10: Maximizing Your Web Marketing 185 Chapter 11: Making a Positive Impression in Low-Cost Ways . 209 Chapter 12: Leveraging Face-to-Face Marketing Opportunities .223 Chapter 13: Going Direct with Your Marketing 237 Part V: Selling Great Products to Anyone, Anytime, Anywhere . 257 Chapter 14: Making Your Brand Stand Out 259 Chapter 15: Finding the Right Pricing Approach . 279 Chapter 16: Distributing Your Product Where Your Customers Are 299 Chapter 17: Succeeding in Sales and Service . 313 Part VI: The Part of Tens 333 Chapter 18: Ten Common Marketing Mistakes (And How to Avoid Them) . 335 Chapter 19: Ten Ways to Launch Guerilla Marketing Attacks . 339 Chapter 20: Ten (Or So) Ways to Survive Sales Downturns . 343 Chapter 21: Ten (Plus One) Tips for Boosting Web Sales 347 Index 353 Table of Contents Introduction . 1 About This Book 1 Conventions Used in This Book . 2 Foolish Assumptions . 3 How This Book Is Organized 3 Icons Used in This Book . 6 Where to Go from Here . 6 Part I: Designing a Great Marketing Program . 7 Chapter 1: Optimizing Your Marketing Program. . . . . . . . . . . . . . . . . . . .9 Knowing Your Customer 9 Asking the right questions 10 Filling the awareness gap 11 Focusing on your target customer 12 Identifying and playing up your strengths .13 Discovering the best way to nd customers 13 De ning Your Marketing Program . 15 Finding your in uence points 17 Analyzing your Five Ps 17 Re ning your list of possibilities .18 Avoiding the pricing trap 19 Controlling Your Marketing Program .19 Re ning Your Marketing Expectations . 22 Projecting improvements above base sales . 22 Preparing for (ultimately successful) failures 22 Revealing More Ways to Maximize Your Marketing Impact 23 Chapter 2: Strengthening Your Marketing Strategy. . . . . . . . . . . . . . . .25 Finding and Riding a Growth Wave .25 Measuring the growth rate of your market 26 Responding to a at or shrinking market . 27 Growing with a Market Expansion Strategy .28 Offering more products .28 Riding a bestseller to the top . 29 Specializing with a Market Segmentation Strategy . 30 Gauging whether specializing is a good move . 31 Adding a segment to expand your market 31 Marketing For Dummies, 3rd Edition viii Developing a Market Share Strategy .31 Choosing a unit 32 Estimating market share . 32 Understanding where your product ts in the market . 33 Knowing your competitors .35 Studying market trends and revising if need be 35 Designing a Positioning Strategy . 36 Envisioning your position: An exercise in observation and creativity 36 Writing a positioning strategy: The how-to 37 Considering Other Core Strategies 38 Simplicity marketing 38 Quality strategies . 39 Reminder strategies .39 Innovative distribution strategies . 40 Selling Innovative Products 40 Writing Down and Regularly Reviewing Your Strategy 41 Chapter 3: Writing a Marketing Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . .43 Reviewing the Contents of a Good Plan 44 Starting with baby steps .45 Maximizing ef ciencies . 46 Understanding the Do’s and Don’ts of Planning 46 Don’t ignore the details . 46 Don’t imitate the competitors 47 Do nd your own formulas for success 47 Don’t feel con ned by last period’s budget and plan .47 Don’t engage in unnecessary spending .47 Do break down your plan into simple subplans 48 Writing a Powerful Executive Summary . 49 Preparing a Situation Analysis .50 Knowing what to include in your analysis 51 Being prepared for economic cycles . 52 Taking stock with a competitor analysis table 53 Explaining your marketing strategy 54 Clarifying and Quantifying Your Objectives . 55 Think about the limitations in your resources 56 Don’t expect to make huge changes in customer behavior . 56 Summarizing Your Marketing Program 58 Exploring Your Program’s Details .60 Managing Your Marketing Program 61 Projecting Expenses and Revenues .62 Buildup forecasts .63 Indicator forecasts . 63 Multiple scenario forecasts 63 Time-period forecasts .64 Creating Your Controls .65 . specifically for this book, go to www .dummies. com/cheatsheet /marketing est spine=.76” by Alexander Hiam Author of Marketing Kit For Dummies, 3rd Edition Marketing. 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